Influx of biosimilar set to see significant market growth

5 June 2024

As more biologics drugs lose their patent protection, the influx of biosimilars is set to expand, offering cost-effective alternatives and significantly impacting their respective markets. This dynamic shift promises broader access to critical therapies, according to pharma analytics company GloblData.

GlobalData’s report, “ State of the Biopharmaceutical Industry 2024 Edition (Mid-Year Update),” highlights the impact of biosimilars and other developments in the pharmaceutical industry. For example, the Crohn’s disease (CD) market is expected to experience significantly slowed growth over the next decade due to biologic patent expiry and biosimilar erosion.

According to GlobalData’s forecasts, sales of biosimilar will increase from 5.7% in 2022 to 18.3% in 2032 of the total sales throughout the eight major markets (8MM: the US, Canada, France, Germany, Spain, Italy, the UK, and Japan). This rise in market share translates to expansion from $0.5 billion to $2.8 billion in biosimilar sales.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK